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As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Global Digital Payment Market: By Solution: Payment Gateway, Payment Security and Fraud Management, Payment Processing, Transaction Risk Management; By Deployment; By Mode of Payment; By End Use; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Digital Payment Market Outlook

The global digital payment market attained USD 4.9 trillion in 2020. The global digital payment market is expected to grow at a CAGR of 13% in the forecast period of 2021-2026 to attain USD 10.4 trillion by 2026.

 

Global Digital Payment Market

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The COVID – 19 Pandemic has Accelerated the Market Growth of Digital Payment

The increasing smartphone penetration in the Asia Pacific region is propelling the market for digital payment services at a healthy rate. The rise of smart wallets, in which users can add money to an application and utilise them later, in multiple areas, is also boosting the adoption of digital payment services. Countries like China are investing heavily in digital payment platforms, which have in-app services for booking hotels, flight tickets, offers, etc. Digital payment platforms are a major market growth imperative and can help boost economy, productivity, transparency, and ease of access to financial services. Further, favourable government regulations such as those in India and Japan continue to propel the digital payments market forward. The shift towards contactless payment services was already quite prevalent across the world but has been all the more bolstered by the COVID-19 pandemic.

 

Digital Payment: Industry Definition and Segmentation

Digital payment is a transaction that is done through digital or online modes, with no physical exchange of money involved. This implies that both parties, the payer and the payee, use electronic mediums or platforms to exchange money. Digital payments can take place through the internet as well as on physical premises, but through a mediating electronic platform.

 

Global Digital Payment Market By Solution

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The market is divided on the basis of solution into:

  • Payment Gateway
  • Payment Security and Fraud Management
  • Payment Processing
  • Transaction Risk Management
  • Others

The market is bifurcated on the basis of deployment into:

  • Cloud
  • On-Premises

In terms of mode of payment, the market is segmented into:

  • Digital Wallets
  • Bank Cards
  • Net Banking
  • Digital Currencies
  • Others

Bank cards are divided by type into debit card, credit card and pre-paid card.

The market is segmented on the basis of end use into:

  • BFSI
  • Healthcare
  • Retail and E-commerce
  • IT and Telecommunication
  • Media and Entertainment
  • Transportation and Logistics
  • Travel and Hospitality
  • Education
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Digital Payment Market By Region

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Various Government Initiatives to Aid the Market Growth of Digital Payment

Countries across the globe are investing in the implementation of ICT technologies to promote digital economies. To digitise payment processes, governments are taking crucial steps. Digital payment is a major growth dimension for a country’s economy. It can boost productivity, improve transparency, help in financial inclusion, and provide new economic opportunities for users. Due to these factors, the market for digital payment is expected to rise at a healthy rate. Increasing penetration of smart phones and the expanding economies have made the market in the Asia Pacific expand at a high rate. Furthermore, India is expected to lead the digital payments market due to various initiatives and conducive regulations, such as UPI and demonetization. Various other countries, like China, Singapore, and Australia, have also launched digital payment initiatives to help boost the digital payment industry. The COVID-19 pandemic has bolstered the market for digital payment due to the growing need for contactless services.

 

Key Industry Players in the Global Digital Payment Market

The report gives a detailed analysis of the following key players in the global digital payment market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Square, Inc.
  • Fiserv, Inc.
  • PayPal Holdings, Inc.
  • Visa Inc.
  • MasterCard Incorporated
  • Apple Inc.
  • One97 Communications Limited
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

 

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Solution, Deployment, Mode of Payment, End Use, Region
Breakup by Solution Payment Gateway, Payment Security and Fraud Management, Payment Processing, Transaction Risk Management, Others
Breakup by Deployment Cloud, On-Premises
Breakup by Mode of Payment Digital Wallets, Bank Cards, Net Banking, Digital Currencies, Others
Breakup by End Use BFSI, Healthcare, Retail and E-commerce, IT and Telecommunication, Media and Entertainment, Transportation and Logistics, Travel and Hospitality, Education, Others
Breakup by Region North America, Latin America, Europe, Middle East and Africa, Asia Pacific
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Square, Inc., Fiserv, Inc., PayPal Holdings, Inc., Visa Inc., MasterCard Incorporated, Apple Inc., One97 Communications Limited, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Digital Payment Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Digital Payment Historical Market (2016-2020) 
    8.3    Global Digital Payment Market Forecast (2021-2026)
    8.4    Global Digital Payment Market by Solution
        8.4.1    Payment Gateway
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Payment Security and Fraud Management
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Payment Processing
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
        8.4.4    Transaction Risk Management
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2016-2020)
            8.4.4.3    Forecast Trend (2021-2026)
        8.4.5    Others
    8.5    Global Digital Payment Market by Deployment
        8.5.1    Cloud
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    On-Premises
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    Global Digital Payment Market by Mode of Payment
        8.6.1    Digital Wallets
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Bank Cards
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
            8.6.2.4    By Type
                8.6.2.4.1    Debit Card
                8.6.2.4.2    Credit Card
                8.6.2.4.3    Pre-Paid Card
        8.6.3    Net Banking
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Digital Currencies
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2016-2020)
            8.6.4.3    Forecast Trend (2021-2026)
        8.6.5    Others
    8.7    Global Digital Payment Market by End Use
        8.7.1    BFSI
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Healthcare
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Retail and E-commerce
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    IT and Telecommunication
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2016-2020)
            8.7.4.3    Forecast Trend (2021-2026)
        8.7.5    Media and Entertainment
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2016-2020)
            8.7.5.3    Forecast Trend (2021-2026)
        8.7.6    Transportation and Logistics
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2016-2020)
            8.7.6.3    Forecast Trend (2021-2026)
        8.7.7    Travel and Hospitality
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2016-2020)
            8.7.7.3    Forecast Trend (2021-2026)
        8.7.8    Education
            8.7.8.1    Market Share
            8.7.8.2    Historical Trend (2016-2020)
        8.7.8.3    Forecast Trend (2021-2026)
        8.7.9    Others
    8.8    Global Digital Payment Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country Kingdom
            9.2.3.1    United 
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Competitive Landscape
    11.1    Market Structure
    11.2    Key Players’ Market Share
    11.3    Company Profiles
        11.3.1    Square, Inc.
            11.3.1.1    Company Overview
            11.3.1.2    Product Portfolio
            11.3.1.3    Demographic Reach and Achievements
            11.3.1.4    Certifications
        11.3.2    Fiserv, Inc.
            11.3.2.1    Company Overview
            11.3.2.2    Product Portfolio
            11.3.2.3    Demographic Reach and Achievements
            11.3.2.4    Certifications
        11.3.3    PayPal Holdings, Inc.
            11.3.3.1    Company Overview
            11.3.3.2    Product Portfolio
            11.3.3.3    Demographic Reach and Achievements
            11.3.3.4    Certifications
        11.3.4    Visa Inc.
            11.3.4.1    Company Overview
            11.3.4.2    Product Portfolio
            11.3.4.3    Demographic Reach and Achievements
            11.3.4.4    Certifications
        11.3.5    MasterCard Incorporated
            11.3.5.1    Company Overview
            11.3.5.2    Product Portfolio
            11.3.5.3    Demographic Reach and Achievements
            11.3.5.4    Certifications
        11.3.6    Apple Inc.
            11.3.6.1    Company Overview
            11.3.6.2    Product Portfolio
            11.3.6.3    Demographic Reach and Achievements
            11.3.6.4    Certifications
        11.3.7    One97 Communications Limited
            11.3.7.1    Company Overview
            11.3.7.2    Product Portfolio
            11.3.7.3    Demographic Reach and Achievements
            11.3.7.4    Certifications
        11.3.8    Others
12    Industry Events and Developments


List of Figures and Tables

1.    Global Digital Payment Market: Key Industry Highlights, 2016 and 2026
2.    Global Digital Payment Historical Market: Breakup by Solution (USD Trillion), 2016-2020
3.    Global Digital Payment Market Forecast: Breakup by Solution (USD Trillion), 2021-2026
4.    Global Digital Payment Historical Market: Breakup by Deployment (USD Trillion), 2016-2020
5.    Global Digital Payment Market Forecast: Breakup by Deployment (USD Trillion), 2021-2026
6.    Global Digital Payment Historical Market: Breakup by Mode of Payment (USD Trillion), 2016-2020
7.    Global Digital Payment Market Forecast: Breakup by Mode of Payment (USD Trillion), 2021-2026
8.    Global Digital Payment Historical Market: Breakup by End Use (USD Trillion), 2016-2020
9.    Global Digital Payment Market Forecast: Breakup by End Use (USD Trillion), 2021-2026
10.    Global Digital Payment Historical Market: Breakup by Region (USD Trillion), 2016-2020
11.    Global Digital Payment Market Forecast: Breakup by Region (USD Trillion), 2021-2026
12.    North America Digital Payment Historical Market: Breakup by Country (USD Trillion), 2016-2020
13.    North America Digital Payment Market Forecast: Breakup by Country (USD Trillion), 2021-2026
14.    Europe Digital Payment Historical Market: Breakup by Country (USD Trillion), 2016-2020
15.    Europe Digital Payment Market Forecast: Breakup by Country (USD Trillion), 2021-2026
16.    Asia Pacific Digital Payment Historical Market: Breakup by Country (USD Trillion), 2016-2020
17.    Asia Pacific Digital Payment Market Forecast: Breakup by Country (USD Trillion), 2021-2026
18.    Latin America Digital Payment Historical Market: Breakup by Country (USD Trillion), 2016-2020
19.    Latin America Digital Payment Market Forecast: Breakup by Country (USD Trillion), 2021-2026
20.    Middle East and Africa Digital Payment Historical Market: Breakup by Country (USD Trillion), 2016-2020
21.    Middle East and Africa Digital Payment Market Forecast: Breakup by Country (USD Trillion), 2021-2026
22.    Global Digital Payment Market Structure

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